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Politics : Formerly About Advanced Micro Devices
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Brumar89
TideGlider
To: koan who wrote (750146)10/29/2013 12:47:16 PM
From: i-node2 Recommendations   of 1575537
 
>> FDR warning about Republican's. One minute if you can stand it. Very good.

FDR also had his own warnings about Social Security:

"In the early 1930s, Roosevelt openly criticized and opposed two popular national retirement plan proposals because they included financing that would create significant future liabilities for taxpayers and the federal government. In early 1935, as FDR reviewed the initial draft of the legislative package which established Social Security, he discovered the plan would result in projected cash deficits beyond 1960 and that the system would require outside funding beyond the payroll tax by 1980. He felt that it would be “dishonest” to set up a program that would create burdens for future congresses and presidential administrations to deal with, burdens that would limit their ability to manage the government’s fiscal operations or other obligations. He understood the fundamental truth of any publicly-financed, universal retirement system: the government’s costs ultimately would have to be borne by workers. FDR therefore demanded that his own administration’s Social Security proposal be altered so the program would be fully financed through the end of the projection period, then 1980, and be balanced at that time."

progressivefix.com
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